Equities Lead As June Inflows Top $77B

ETFs end up short of reaching the $500 billion inflow mark by the first half of 2021.

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Reviewed by: Dan Mika
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Edited by: Dan Mika

The ETF market missed the chance to breach the $500 billion inflow mark at the first half of the year, but appears well on the way after investors put $77 billion in the market in June.

The inflows last month are a 15% increase over May’s flows, and puts the industry on track to easily break the full-year record of $507.4 billion from 2020 in a matter of weeks. The first half of 2021 ended with $472.5 billion in assets for U.S.-based ETFs.

Let’s dig into the data.

Equities Just Keep Getting Bigger

U.S. equity funds added $37.7 billion in assets during the month, a 55% increase over May’s tally, while international equities gained $19.8 billion for a 13.7% gain month-over-month. The performance for American equities isn’t surprising considering the S&P 500 closed at record-highs 35 times in 2021 so far, while the tech-heavy Nasdaq Composite hit 18 records in the same period.

The Invesco QQQ Trust (QQQ) led the charge among all funds, with $6.16 billion in flows during the month as tech flourished, while the SPDR S&P 500 ETF Trust (SPY) was a distant second, at $4.9 billion.

On a year-to-date basis, U.S. equities have a net gain of $219.2 billion and just more than $3.8 trillion in assets under management, while international equities have gained $138 billion and stand at $1.3 trillion in total assets.

Inflation Fears Recede

As more Americans returned to something resembling a prepandemic normal, and other countries across the world started to emerge from COVID-19-generated lockdowns, some investors took positions in inflationary plays as a mismatch of demand and the Federal Reserve’s commitment at the time to keep rates near zero.

Those plays lost steam soon after multiple Fed governors suggested that rate hikes would begin as soon as next year after their FOMC meeting in June, implying that the central bank is keeping a closer eye on long-term inflation than it’s previously indicated.

The Vanguard Short-Term Bond ETF (BSV) and the SPDR Gold Trust (GLD) were among the top 10 gainers in May but fell off the list in June, while the iShares 1-3 Year Treasury Bond ETF (SHY) lost $845.1 million in the month.

At the same time, a $2.2 billion inflow into the iShares 20+ Year Treasury Bond ETF (TLT) and $2.6 billion into the iShares U.S. Real Estate ETF (IYR) suggest that investors aren’t too worried over longer-term inflation.

Commodities Slow Considerably

The commodities class showed a noticeable slowdown during the month despite posting net inflows of $460.2 million—well off the pace of the approximately $5.5 billion worth of inflows in May.

The asset class’ month is a tale of two extremes. Speculators drove the price of oil to almost $75 per barrel toward the end of the month as a wave of post-lockdown vacations piqued demand.

The United States Oil Fund LP (USO) had returns of 9.84% for the month, while the broader Energy Select Sector SPDR Fund (XLE) had a single-month of return of 2.91%.

However, precious metals retreated significantly as inflation fears eased. GLD, the iShares Gold Trust (IAU), the iShares Silver Trust (SLV) and the Aberdeen Standard Physical Precious Metals Basket Shares ETF (GLTR) all had negative returns of 7% or worse during the month.

For a full list of the top inflows and outflows for May and the year as a whole, see the tables below:

 

Top Gainers (June 2021)

TickerNameIssuerNet Flows ($,mm)AUM ($M)% of AUMYTD 2021 Net Flows($,M)
QQQInvesco QQQ TrustInvesco6,160.63177,225.303.48%5,618.69
SPYSPDR S&P 500 ETF TrustState Street Global Advisors4,876.69373,525.581.31%-1,715.03
VTIVanguard Total Stock Market ETFVanguard3,497.47252,496.591.39%20,160.46
BNDVanguard Total Bond Market ETFVanguard2,888.4578,499.823.68%12,129.04
IYRiShares U.S. Real Estate ETFBlackrock2,571.057,482.1134.36%1,191.97
VOOVanguard S&P 500 ETFVanguard2,444.10232,337.161.05%26,597.28
TLTiShares 20+ Year Treasury Bond ETFBlackrock2,164.5515,081.7614.35%-2,239.42
IVViShares Core S&P 500 ETFBlackrock1,597.28286,606.200.56%12,513.19
IEFAiShares Core MSCI EAFE ETFBlackrock1,533.4096,608.641.59%5,366.33
EZUiShares MSCI Eurozone ETFBlackrock1,519.288,160.7418.62%2,516.40

 

Top Gainers (Year-to-Date)

TickerNameIssuerNet Flows ($,mm)AUM ($M)% of AUMJune 2021 Net Flows($,M)
VOOVanguard S&P 500 ETFVanguard26,597.28232,337.1611.45%2,444.10
VTIVanguard Total Stock Market ETFVanguard20,160.46252,496.597.98%3,497.47
IVViShares Core S&P 500 ETFBlackrock12,513.19286,606.204.37%1,597.28
BNDVanguard Total Bond Market ETFVanguard12,129.0478,499.8215.45%2,888.45
VTVVanguard Value ETFVanguard10,200.2581,348.2312.54%1,256.04
IEMGiShares Core MSCI Emerging Markets ETFBlackrock9,226.2883,902.2911.00%969.08
XLFFinancial Select Sector SPDR FundState Street Global Advisors8,875.0340,617.3721.85%-2,294.53
IUSBiShares Core Total USD Bond Market ETFBlackrock8,609.3414,482.3259.45%489.32
ARKKARK Innovation ETFARK7,641.9325,527.1829.94%654.18
VWOVanguard FTSE Emerging Markets ETFVanguard6,616.3884,372.427.84%848.31

 

Biggest Losers (June 2021)

TickerNameIssuerNet Flows ($,mm)AUM ($M)% of AUMYTD 2021 Net Flows($,M)
XLFFinancial Select Sector SPDR FundState Street Global Advisors-2,294.5340,617.37-5.65%8,875.03
HYGiShares iBoxx USD High Yield Corporate Bond ETFBlackrock-1,886.4020,345.42-9.27%-5,609.88
TQQQProShares UltraPro QQQProShares-1,777.5212,476.94-14.25%-770.28
LQDiShares iBoxx USD Investment Grade Corporate Bond ETFBlackrock-1,576.4440,171.95-3.92%-13,437.84
XLIIndustrial Select Sector SPDR FundState Street Global Advisors-1,165.3119,167.92-6.08%514.26
JNKSPDR Bloomberg Barclays High Yield Bond ETFState Street Global Advisors-1,067.969,774.46-10.93%-2,836.50
SOXLDirexion Daily Semiconductor Bull 3X SharesDirexion-948.844,640.70-20.45%1,124.14
EWJiShares MSCI Japan ETFBlackrock-877.9011,405.33-7.70%-2,245.27
SHYiShares 1-3 Year Treasury Bond ETFBlackrock-845.1219,509.33-4.33%-77.54
MDYVSPDR S&P 400 Mid Cap Value ETFState Street Global Advisors-714.201,635.23-43.68%-190.57

 

Biggest Losers (Year-to-Date)

TickerNameIssuerNet Flows ($,mm)AUM ($M)% of AUMJune 2021 Net Flows($,M)
LQDiShares iBoxx USD Investment Grade Corporate Bond ETFBlackrock-13,437.8440,171.95-33.45%-1,576.44
USMViShares MSCI USA Min Vol Factor ETFBlackrock-8,095.8927,615.34-29.32%-657.36
GLDSPDR Gold TrustState Street Global Advisors-6,905.0959,003.72-11.70%165.15
HYGiShares iBoxx USD High Yield Corporate Bond ETFBlackrock-5,609.8820,345.42-27.57%-1,886.40
SHViShares Short Treasury Bond ETFBlackrock-3,183.8914,643.56-21.74%-226.50
IWFiShares Russell 1000 Growth ETFBlackrock-3,151.3269,315.14-4.55%-457.43
JNKSPDR Bloomberg Barclays High Yield Bond ETFState Street Global Advisors-2,836.509,774.46-29.02%-1,067.96
QUALiShares MSCI USA Quality Factor ETFBlackrock-2,746.4121,601.80-12.71%461.03
IVWiShares S&P 500 Growth ETFBlackrock-2,382.4634,233.27-6.96%-36.56
IHIiShares U.S. Medical Devices ETFBlackrock-2,260.197,779.86-29.05%-407.89

 

Asset Classes (June 2021)

 Net Flows ($, mm)AUM ($, mm)% of AUM
U.S. Equity37,702.543,809,537.570.99%
International Equity19,836.881,290,880.871.54%
U.S. Fixed Income15,381.851,042,385.341.48%
International Fixed Income3,567.11142,642.772.50%
Commodities460.19139,890.880.33%
Currency158.411,941.798.16%
Leveraged-1,632.2961,285.23-2.66%
Inverse894.6411,730.937.63%
Asset Allocation548.2916,348.423.35%
Alternatives76.416,417.571.19%
Total:76,994.046,523,061.371.18%

 

Asset Classes (Year-to-Date)

 Net Flows ($, mm)AUM ($, mm)% of AUM
U.S. Equity219,260.973,809,537.575.76%
International Equity138,072.431,290,880.8710.70%
U.S. Fixed Income84,750.621,042,385.348.13%
International Fixed Income21,293.52142,642.7714.93%
Commodities-511.90139,890.88-0.37%
Currency55.501,941.792.86%
Leveraged758.1661,285.231.24%
Inverse3,952.2811,730.9333.69%
Asset Allocation2,069.1716,348.4212.66%
Alternatives2,111.766,417.5732.91%
Total:471,812.516,523,061.377.23%

 

June 2021 ETF Issuer League Table

IssuerNet Flows ($,M)AUM ($,M)% of AUMYTD 2021 Net Flows($,M)
Blackrock17,795.922,299,593.610.77%94,250.23
Vanguard27,604.651,843,092.901.50%173,831.69
State Street Global Advisors5,889.35979,199.000.60%39,718.74
Invesco8,037.16361,324.782.22%31,383.93
Charles Schwab3,201.08245,244.911.31%22,562.01
First Trust2,535.16135,573.391.87%14,168.51
JPMorgan Chase1,697.0765,596.002.59%16,835.11
VanEck2,800.4062,111.284.51%7,554.38
ProShares-465.9457,447.73-0.81%4,421.32
ARK1,121.1550,421.732.22%16,417.50
WisdomTree296.5045,128.070.66%2,450.99
Mirae Asset Global Investments Co., Ltd.1,229.9934,706.083.54%11,969.97
Dimensional Holdings375.3330,386.641.24%1,364.31
Fidelity432.7929,772.201.45%3,026.40
Allianz-59.3226,794.30-0.22%848.06
Direxion-193.6526,041.15-0.74%1,476.24
Goldman Sachs470.1223,869.351.97%-344.92
Deutsche Bank520.9522,427.922.32%878.40
Northern Trust286.0318,361.971.56%2,440.49
CICC880.4511,098.617.93%5,248.33
Franklin Templeton-35.209,464.33-0.37%356.99
SS&C-11.229,450.71-0.12%243.30
ETFMG6.657,618.380.09%1,401.00
Pacer Advisors193.277,517.812.57%993.91
American Century Investments380.547,125.085.34%2,640.22
Exchange Traded Concepts190.047,085.722.68%1,234.71
Standard Life Aberdeen195.986,980.072.81%704.00
Crestview97.946,514.401.50%207.24
Innovator39.515,240.320.75%903.67
Principal116.955,213.852.24%867.94
Manulife35.244,979.050.71%-681.20
Amplify Investments113.484,664.402.43%1,214.57
Concierge Technologies-375.624,511.19-8.33%-2,108.90
New York Life-55.794,377.86-1.27%306.33
Nuveen Securities244.164,119.975.93%1,107.46
Janus Henderson-71.554,087.55-1.75%155.98
The Hartford53.494,047.361.32%145.17
US Global Investors33.593,700.830.91%499.16
BMO34.173,244.701.05%345.33
Barclays62.193,063.522.03%1,289.75
Toroso Investments-70.132,274.35-3.08%639.56
AdvisorShares-25.542,214.49-1.15%1,233.90
Prudential122.211,762.446.93%383.85
Ameriprise Financial36.301,607.332.26%324.60
O’Shares Investments0.411,588.610.03%10.96
Defiance ETFs32.441,513.552.14%376.54
Vident-1.211,491.04-0.08%-22.49
GraniteShares-49.101,450.30-3.39%140.20
Davis Advisers17.401,334.741.30%108.59
Aptus Capital Advisors87.591,312.616.67%273.75
UBS-5.031,271.11-0.40%-49.53
Virtus Investment Partners71.871,248.535.76%249.15
Cambria5.961,096.120.54%207.89
Credit Suisse Group AG89.531,023.268.75%239.20
Inspire34.911,000.063.49%168.40
Main Management20.28980.362.07%211.40
EMPIRICAL FINANCE LLC7.32959.910.76%236.09
The Bank of New York Mellon Corp.23.90845.182.83%282.14
Aegon-1.15802.74-0.14%-31.12
Nationwide59.09765.637.72%230.45
Rational Capital LLC115.61738.9815.64%503.94
Renaissance Capital38.04674.165.64%-91.10
The Motley Fool2.86667.470.43%60.05
Horizon Kinetics LLC87.30628.1513.90%597.16
Roundhill Investments-19.40568.08-3.41%254.47
Tortoise8.01553.451.45%43.08
Simplify Asset Management Inc.129.19518.3824.92%373.97
Timothy Plan12.29472.262.60%29.55
Merk6.96463.991.50%57.27
TrimTabs-14.99432.95-3.46%25.90
Redwood Investment Management70.22419.8016.73%-36.68
Howard Capital Management14.48404.263.58%59.82
SRN Advisors-6.36392.84-1.62%70.94
Liquid Strategies-1.39381.56-0.36%66.51
Distillate Capital13.74378.913.63%119.10
Sprott0.00362.920.00%18.15
Al Marketing LLC-5.96354.40-1.68%-38.79
Teucrium-41.77347.52-12.02%-30.69
T. Rowe Price Group, Inc.37.43346.6710.80%149.84
Regents Park Funds7.13339.032.10%64.36
ClearShares LLC56.66336.4516.84%86.24
WBI0.00294.140.00%-0.55
Government of Sweden-5.40289.85-1.86%8.93
ProFund Advisors LLC14.73275.525.35%252.50
Donald L. Hagan LLC21.23254.838.33%90.72
Tuttle Tactical Management, LLC-2.12250.24-0.85%90.81
Mcivy Co. LLC0.00232.440.00%116.87
Intangible Capital-0.02193.84-0.01%2.47
Syntax Advisors26.64190.4513.99%48.05
Capital Impact Advisors-1.92187.01-1.03%-4.53
Core Alternative Capital5.98184.603.24%40.61
Little Harbor Advisors14.21171.888.27%104.10
TrueMark Investments12.37147.988.36%69.91
ProcureAM0.71135.250.52%78.13
Arrow Funds-3.16135.11-2.34%3.22
Gadsden0.71117.820.60%16.55
Wahed3.65116.523.13%39.16
Emles Advisors LLC68.97111.9561.61%43.06
Kingsview Partners LLC10.49107.959.71%100.58
AGF1.69106.871.58%-15.92
Wainwright, Inc.5.91106.785.53%90.25
CornerCap Investment Counsel, Inc.1.52103.051.47%28.60
Advisors Asset Management22.9996.1123.93%46.63
Humankind USA LLC13.7185.0816.11%77.56
Exponential ETFs0.0078.620.00%-0.08
iM Square SAS4.2975.725.67%16.22
Change Finance4.8474.346.51%33.35
Pettee Investors3.0074.294.03%21.78
Groupe BPCE2.5267.103.76%12.67
Impact Shares6.3566.919.49%25.54
Metaurus Advisors2.4865.263.79%5.93
Swan Global Investments8.4158.4614.38%54.57
Pacific Life0.0057.340.00%-0.11
Beyond Investing0.0057.29-0.01%14.62
Guinness Atkinson Asset Management0.0054.600.00%15.08
Neil Azous Revocable Trust12.4452.2823.80%30.09
Esoterica0.0052.260.00%27.83
Absolute Investment Advisers LLC2.0749.644.17%9.16
Infusive Asset Management1.7647.773.69%8.53
Toews Corp.0.7743.891.76%-5.61
Highland Capital Management-0.0143.58-0.03%-9.78
Premise Capital0.0040.380.00%-13.27
Cabot ETF Partners LLC0.0038.330.00%33.96
Alger Group Holdings LLC0.7638.281.98%30.41
Rayliant Investment Research18.5335.9251.60%33.47
Red Gate Advisers LLC0.3934.991.11%5.39
ETF Series Solutions0.7432.292.28%4.58
Inverdale Capital Management LLC2.7030.618.81%24.37
2nd Vote Value Investments, Inc5.4529.0518.76%22.18
AlphaMark Advisors0.0026.790.00%-1.41
MCCM Group LLC0.4126.181.56%34.51
Whitford Asset Management0.0023.580.00%20.07
Truist0.7323.463.12%0.83
Formidable Asset Management5.1723.3422.14%22.00
Uncommon Investment Advisors LLC15.4520.0077.24%19.20
Changebridge Capital LLC1.1017.846.15%10.88
The Leuthold Group LLC0.0015.090.02%1.43
GAMCO Investors, Inc.0.0013.740.00%7.27
Ridgeline Research LLC3.1613.6823.10%9.93
Point Bridge Capital0.9212.607.31%1.00
Mairs & Power, Inc.1.5212.6012.07%12.53
Counterpoint Mutual Funds LLC0.6012.144.96%-0.60
EquBot0.0011.730.00%4.82
Alternative Access Funds LLC0.0010.030.00%0.00
Tuttle Capital Management LLC3.857.8149.28%2.63
New Age Alpha Advisors LLC-1.447.47-19.33%5.49
Water Island Capital Partners LP0.006.550.01%0.00
Global Beta Advisors0.005.10-0.02%-2.99
Reflection Asset Management, LLC0.704.1216.93%1.29
Applied Finance Group0.003.830.00%2.49
ASYMmetric ETFs0.803.2824.56%3.10
Democracy Investment Management LLC0.681.9934.03%1.32
Wilshire Phoenix Funds LLC0.001.770.00%0.00
WisdomTree Investments, Inc.0.001.05-0.01%0.00
Cavalier160.000.000.00%3.19
Eaton Vance Corp.0.000.000.00%0.00

 

Disclaimer: All data as of 6 a.m. Eastern time the date the article is published. Data is believed to be accurate; however, transient market data is often subject to subsequent revision and correction by the exchanges.

Dan Mika is a reporter for etf.com. He has previously covered business for the Ames Tribune and Cedar Rapids Gazette in Iowa, and BizWest Media in Fort Collins, Colorado. Dan holds a bachelor's degree in journalism from Truman State University.